2000-142NOTE Amended by Ordinance No 2000-142
ORDINANCE NO dOa -14z,
AN ORDINANCE ACCEPTING COMPETITIVE BIDS AND AWARDING A CONTRACT FOR
THE ACQUISITION OF LEASE PURCHASE FINANCING, PROVIDING FOR THE
EXPENDITURE OF FLrNDS THEREFOR, AND PROVIDING AN EFFECTIVE DATE (BID 2489
- LEASE PURCHASING FINANCING AWARDED TO GOVERNMENT CAPITAL
CORPORATION AT THE EFFECTIVE RATE OF 4 99%, APPROXIMATE FINANCING
CHARGES $99,819)
WHEREAS, the City has sohmted, received and tabulated competitive bids for the purchase
of necessary materials, eqmpment, supphes or services in accordance with the procedures of STATE
law and City ordinances, and
WHEREAS, the City Manager or a designated employee has reviewed and recommended
that the hereto descnbed b~ds are the lowest responsible bids for the materials, equipment, supplies
or services as shown in the "Bid Proposals" submitted therefore, and
WHEREAS, the City Council has provided in the City Budget for the appropnataon of funds
to be used for the purchase of the materials, equipment, supplies or services approved and accepted
herein, NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
b._E_Q!!_Q]2~ That the numbered items in the following numbered bids for materials,
equipment, supplies, or services, shown in the "Bid Proposals" on file in the office of the City
Purchasing Agent, are hereby accepted and approved as being the lowest responsible bids for such
items
BID ITEM
NUMBER NO ~ AMOUNT
2489
All Government Capital Corporation 4 99% Annual Effective Rate
~ That by the acceptance and approval of the above numbered items of the
submitted bids, the City accepts the offer of the persons submitting the bids for such items and
agrees to purchase the materials, equipment, supplies or services in accordance with the terms,
specifications, standards, quantities and for the specified sums contmned in the Bid Invitations, Bid
ProposalS, and related documents
T~~ That should the City and persons submitting approved and accepted items
and of the submitted bids wish to enter into a formal written agreement as a result of the acceptance,
approval, and awarding of the bids, the City Manager or his designated representative is hereby
authorized to execute the written contract which shall be attached hereto, provided that the written
contract is in accordance with the terms, conditions, specifications, standards, quantities and
specified sums contmned in the Bid Proposal and related documents herein approved and accepted
~ That by the acceptance and approval of the above numbered items of the
submitted bids, the City Council hereby authorizes the expenditure of funds therefor in the amount
and tn accordance w~th the approved bids or pursuant to a written contract made pursuant thereto as
authorized hereto
~ That th~s ordinance shall become effective ~mmed~ately upon ~ts passage and
approval
PASSED AND APPROVED thlS /~ff? dayof /?~--~ ,2000
JAC~I,I~LER, MAYO
ATTEST
JENNIFER WALTERS, CITY SECRETARY
0 r
APPROVED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
2489 SUPPLY ORD1N~__~
ATTACHMENT 1
BID # 2489
TABULATION SHEET
Description: Fixed Effective Rate 3 Year Term
VENDOR,
Government Capital Corporation
Bank One
The Associates
Automotive Resources Intl.
Tobyne Corporation
4.99%
5 55%
5 88%
8.14%
NB
NB
ORDINANCE NO
AN ORDINANCE AUTHORIZING THE EXECUTION OF A CHANGE ORDER TO A
CONTRACT FOR LEASE/PURCHASING FINANCING OF EQUIPMENT BETWEEN THE
CITY OF DENTON AND GOVERNMENT CAPITAL CORPORATION, PROVIDING FOR
AN INCREASE 1N THE QUANTITY OF ITEMS, AND AN INCREASE 1N THE EFFECTIVE
RATE AND INCREASE IN THE TOTAL FINANCING CHARGES AMOUNT, AND
PROVIDING AN EFFECTIVE DATE (BID 2489 - LEASE/PURCHASING FINANCING
AWARDED TO GOVERNMENT CAPITAL CORPORATION AT THE EFFECTIVE RATE
OF 4 99% + CHANGE ORDER 1 AT THE EFFECTIVE RATE OF 5 975%
WHEREAS, on April 18, 2000 (Ordinance 2000-142), the C~ty awarded a Contract for
the Acqmslt~on of Lease/Purchase Financing to Government Capital CorporaUon to finance
eqmpment ~n the amount of $1,248,871 at an effective interest rate of 4 99%, and
WHEREAS, the C~ty Manager having recommended to the Council that a change order
be authorized to amend such contract agreement w~th respects to the md~wdual perfonmng the
servme and price and smd change order being m comphance w~th the reqmrements of Chapter
252 of the Local Government Code, Now, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTI___ON I That the change order amending the contract amount of the agreement
between the C~ty and Government Capital Corporation, on file ~n the office of the Purchasing
Agent, ~s hereby approved to finance add~tmnal equipment in the amount of $313,900 at the
effective interest rate of 5 975%
SECTION II
and approval
PASSED AND APPROVED thxs the
That this ordinance shall become effective lmmedtately upon ~ts passage
/~-~ day oaf ~L~' 2000
EULINE BROCK, MAYOR
ATTEST'
JENN~ER WALTERS~ CITY SECRETARY
By(
-
^s
/
ATTACHMENT 1
GOVERNMENT CAPITAL CORPOF TIQN
PUBLK~ FINANC~ER~ PO ~t.~ MB~
Date .luly t 7. 2o00
To Mr. Tom Show
Thc h,ibmmtiun bd~w la relative to tho propolad ~ for the 8cquieition ortho foliowin8
I)-? Cater]liner Dazer
Contract Amount, 1313,900.00
Down Poyment; Nono
3 yr. S,97S%
The first semi-emud pi]anent will bm)me due November !, 2000, ~nd ooatinuo mmudly
Note: Tho same documentation used pre~oualy will bo prepared for tlus t~mua~on All
tinanmal reformation needed ts on fllo
The escrow account must be fh, ded no later tlum September I. 2000 It* domn8 occurs after
Ausunt IS, 2000. wa reservo time d~ht to index mt~ to ourront market
We apprmmtKo tho oppommit~ to submit this propose]
call mo m (~00) 561.4~461
DCOfornc
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